Increasing Integration of Wi-Fi, Bluetooth, and Airplay to Propel AV Receiver Market Growth during 2021–2028
According to our latest market study on "AV Receiver Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Channel and Application," the market is expected to grow from US$ 1,999.88 million in 2021 to US$ 2,616.44 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.
The increasing disposable income of the global population is influencing the rise in spending on home theaters from the residential sector. However, smart systems have experienced a rise over the years for efficient and wireless connectivity of devices. The manufacturers of modern home cinema receivers are integrating range of technologies such as 8K video, dolby atmos, Wi-Fi music streaming and high-quality audio. For instance, the Yamaha RX-V6A offers a fresh design with easy control panels and optimum sound quality. The system is integrated with the latest connectivity technologies such as Wi-Fi, AirPlay 2, spotify, bluetooth, and Yamaha's MusicCast system for efficient and hassle-free streaming from any devices. Similarly, the Onkyo TX-NR6100 also offers a wide streaming selection format to its uses such as chromecast built in, DTS Play-Fi, Spotify, AirPlay and Bluetooth. The rising demand for wireless connectivity for audio/video receiver is influencing the demand for the wireless technology integrated systems, thereby influencing the AV receiver market growth.
The European automotive industry was severely hit and experienced a decline of more than 20% in overall automotive production due to severe supply chain disruption caused by imposed lockdowns, thereby lowing the growth for AV receiver market across the automotive sector in Europe. However, the residential segment experienced a rise in demand in European countries. On the other side, the demand could not be fulfilled owing to e-commerce operation and retail outlet closures. These factors negatively impacted the AV receiver market growth. The COVID-19 pandemic has compelled manufacturers to streamline their production processes to tackle unexpected disruption and resolve uncertain challenges, like physical distancing. Considering increasing vaccination drives, demand for AV receivers is recovering from the Q3 of 2020 with companies investing in making operations efficient and productive.
The AV receiver market is segmented on the basis of channel, application, and geography. Based on channel, the market is segmented into channel 5, channel 7, channel 9, and others. Based on application, the AV receiver market is bifurcated into residential and commercial. Based on geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.
Yamaha Corporation, Sony Corporation, Onkyo Corporation, Amthem, and Arcam are among the key players in the AV receiver market. In addition, several other essential market players were studied and analyzed during the course of this study to get a holistic view of the market and its ecosystem.
Report : AV Receiver Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel (channel 5, channel 7, channel 9, and others) Application (Residential and commercial)